Asia Mining News

Hedge funds reeling from gold jump have five charts to watch

Hedge funds that doubled down on bearish gold wagers are facing a gut check.

Gold festival demand in top buyer hits hurdle as prices jump

If this trend continues, then it’s going to be a dampener.

ArcelorMittal to make $1B creditor payment to bid for Essar Steel

The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.

Indonesia targets closure of Freeport deal in December — official

State-owned miner Inalum said the $3.85 billion deal is still subject to the issue of environmental recommendations and a special mining permit (IUPK) by the Indonesian government.

Copper smelter hits cause physical squeeze in Asia

The copper market is currently experiencing a squeeze on physical metal which is unexpected.

A golden escape  

The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration’s decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).

Global steel body hikes demand forecasts, but says risks remain

Steel demand expected to rise by 3.9% in 2018, but trade tensions are clouding global economic outlook.

Vale rules out major acquisitions

CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.

Rio Tinto delays start of Oyu Tolgoi expansion due to technical issues

First production from the $5.3 billion underground expansion of Oyu Tolgoi was originally scheduled for early 2020.

Europe to spend billions on lithium-ion battery plants

The goal is to reduce reliance on batteries from Asia, particularly China and South Korea.

Indonesia considering "safeguard" tariff on aluminium foil – WTO filing

Indonesia said industry association APRALEX had applied for safeguard measures, which can be used to protect a country's producers.

Asia Gold-High prices deter buyers ahead of India festival season

In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams.

Lynas jumps after its critic in Malaysian Gov't leaves review team

Deputy Minister Fuziah Salleh, a long-standing critic of Lynas’ plant, offered to step down from the committee reviewing the facility following criticism that she would not be impartial.

Trafigura-backed copper miner Atalaya Mining seeks buyer

Atalaya Mining produced 166,000 tonnes of copper concentrate in 2017 and has a market capitalization of 327 million pounds ($433 million).

Logistics woes drive Indian mills to buy iron ore overseas

Steel mills in India are increasingly tapping the global market for iron ore as they find it difficult to transport the key raw material from local mines

Global coal mining industry sees compound annual growth

The global coal mining market is growing, with a CAGR of close to 2% from 2018-2022.

Freeport CEO open to all options, even sale, after Grasberg

Richard Adkerson says any strategic move is now possible, including acquisitions, partnerships, or even a sale of the entire company.

War on coal is heating up, but China is still the key

The IPCC report highlights that coal now has its back very much against the wall, but equally that the real power for change lies in Beijing.

Thailand’s exit from gold to worsen regional underperformance

Since shutting down of all gold mining and exploration activities in 2016, the country has been losing both tax revenue and investors, a new report shows.

Lynas shares jump on Malaysia review comments

Shares in Australian rare earths miner Lynas Corp jumped 12 percent on Friday after Malaysia's prime minister downplayed the roles of two Lynas critics.

Asia Gold-India discounts widen; Bangladesh launches trade policy

Higher domestic prices dented demand for physical gold in India, prompting dealers to offer the biggest discounts in 3-1/2 months this week.

Glencore, Tohoku Electric set coal contract price at $109.77/T

The agreed price serves as an industry benchmark for supplies of seaborne thermal coal in Asia.

How these mats have generated $20 million since 2015

Despite Indonesia being blessed with an abundance of natural resources, there has been limited foreign investment into greenfield projects within the nation. So plentiful are Indonesia’s resources, global mining companies regularly rank Indonesia highly in terms of coal and mineral prospectivity. However, one of the major roadblocks to greenfield projects in Indonesia, is accessibility.

Eurasian Resources Group sets out vision for responsible cobalt supply at two major sustainability conferences in New York

Eurasian Resources Group participated reiterated its commitment to the Global Battery Alliance, a World Economic Forum initiative to showcase how the Group will ensure a responsible cobalt supply chain for the future.

India's Q4 gold imports to jump as investors seek safer bets than stocks

Gold imports could rise 9% in Q4 to 250 tonnes.